US-based data storage technology developer Pavilion Data Systems secured $25m in series C funding on Tuesday from a consortium including telecommunications firm SK Telecom.
Taiwania Capital led the oversubscribed round, which also included fellow venture capital firms RPS Ventures, Kleiner Perkins, Korea Investment Partners, DAG Ventures, Artiman Ventures and Tyche Partners.
Pavilion Data Systems has developed a technology called NVMe-over-fabric which facilitates ultra-fast data processing, transference, and storage on solid-state disks. The platform enables cloud-based applications to be used with the same efficiency as local data storage.
The series C proceeds will allow Pavilion to accelerate product development, expand into new markets and hire additional staff.
Pavilion has now received $58m in funding to date, it said. SK Telecom previously participated in a $12m series B round for the company in May 2018 together with Kleiner Perkins predecessor Kleiner Perkins Caufield & Byers (KPCB), DAG Ventures, Korea Investment Partners and Artiman Ventures.
KPCB and Artiman Ventures had already co-led Pavilion’s $15m series A round in 2016, investing alongside SK Telecom’s SKTA Innovation Accelerator.
Gurpreet Singh, Pavilion Data’s chief executive, said: “We are pleased with the series C oversubscribed round of funding and our ongoing customer progress.
“In 2019, we have delivered a large number of systems to leading organisations worldwide. Many of these customers are now purchasing additional arrays as they continue to scale out.”
